Wednesday, January 12, 2011

Hap Seng extends slide for third day

KUALA LUMPUR: Shares of HAP SENG CONSOLIDATED BHD [] fell for the third day on Wednesday, Jan 12 as investors took profit after the proposed to raise nearly RM1.5 billion from a share placement and rights issue.

At 9.36am, Hap Seng was down 16 sen to RM6.64 with 475,300 shares done.

The FBM KLCI was up 0.66 of a point to 1,563.60. Turnover was 451.87 million shares done valued at RM271.24 million. There were 311 gainers, 135 losers and 227 stocks unchanged.

Last Friday, Jan 7, Hap Seng announced that its plans to raise up to RM1.46 billion for a corporate exercise which includes RM808.21 million from a private placement and another RM654.54 million from a rights issue.


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